HomeMy WebLinkAboutMO # 618MUNICIPAL ORDER NO. 618
A MUNICIPAL ORDER AUTHORIZING THE CITY MANAGER TO
EXECUTE OPTION AGREEMENTS IN REGARD TO REAL PROPERTY SUITABLE
FOR HOPE 3
WHEREAS, the City of Paducah is desirous of
participating in a HUD Home Ownership Program known as HOPE 3;
and
WHEREAS, to participate, it is necessary for the City
to acquire suitable real properties located in the City of
Paducah, Kentucky, which may be utilized in the HOPE 3 program;
Jand
WHEREAS, pursuant to HUD regulations, it is
appropriate for the City to acquire said real properties
initially by option agreements.
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. The Board of Commissioners of the City of
Paducah, Kentucky, does by this Municipal Order hereby
authorize the City's participation in the HUD project known as
HOPE 3. It is the belief of the Board of Commissioners of the
City of Paducah that the participation in such project is
beneficial and to the betterment of the Paducah community.
SECTION 2. The Board of Commissioners of the City of
Paducah, Kentucky, does by Municipal Order hereby direct and
I
authorize the City Manager to execute option agreements for the
acquisition of real properties located within the City of
Paducah, which are suitable for participation in the HOPE 3
Project. The City Manager is hereby authorized to execute for
and in behalf of the City option agreements with such terms and
provisions as directed by corporation counsel.
SECTION 3. This Order shall be in full force and
effect from and after the date of its adoption.
GERRY B. MONTGOMERY
Mayor
Adopted by the Board of Commissioners April 7, 1992
Recorded by Lenita Smith, City Clerk, April 7, 1992
ATTEST:
Lenita Smith
City Clerk
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